Folks while we celebrate 4 years of Slabbed please join me in re visiting one of my more timeless insurance post, Around the GO Zone in 60 Seconds: Drinking ‘Shroom juice at the Wall Street Journal, Cottages, Community, Warr and Wind Pool whereby I opined the Wall Street journal Editorial Board were a bunch of “lit and hallucinating buffoons” for writing this OpEd that extolled the virtues of State Farm and Commish Jim Donelon aka Jimbo the Clown. The sheer stupidity of the whole gang is simply timeless, especially since everyone kinda knows Louisiana Citizens is insolvent, got a going concern opinion and the like.
Well folks, last Friday the Louisiana Supreme Court ruled, in an open and shut case, that Louisiana Citizens did not adjust claims per the consumer protection portion of the state insurance law and was on the hook for bad faith penalties. Despite the split court I’ll add this case was open and shut except in certain results oriented courthouse circles who also know Citizens is insolvent and would give the entity a pass because of it, no doubt to save themselves the insurance assessment that is certainty coming everyone’s way now that the law has been correctly applied.
I everyone hope remembers how Citizens was hijacked and used as the personal piggy banks for insurance industry cronies connected to luminaries such as former Commish Robert Wooley and now Jimbo the Clown himself. We’ve blogged lots on the Citizens Insurance Insolvency and parade of disaster CEO’s that have stunk up the place. We’ve also blogged on the Wall Street Journal and the PR plants that spout self-serving crap for big business on its editorial pages. But frankly I never thought I’d blog on Jimbo the Clown bitching a blue streak because the Supreme Court correctly ruled in favor of the policyholder in an open and shut case, especially given his very recent campaign ads where he trumpeted being tough on an insurance company fining them $250,000 for fucking people over after Katrina. I reckon Jimbo thinks the voters in Louisiana are schmucks.
So for Jimbo, the lit and hallucinating buffoons at the Wall Street Journal Editorial Board and for the shills in Herr Hartwig’s boiler room today’s music is for you. ~ sop